By Wendy Van Sickle
Columbus, Ohio, July 5 – Citigroup Global Markets Holdings Inc. priced $2.1 million of contingent income autocallable securities due June 27, 2025 linked to the least performing of the Financial Select Sector SPDR fund, the Materials Select Sector SPDR fund and the Utilities Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a contingent quarterly coupon at the rate of 10% per year if each fund closes at or above its coupon barrier level, 65% of its initial level, on the corresponding determination date.
The notes will be automatically called at par plus the coupon if each fund closes at or above its initial level on any quarterly determination date.
The payout at maturity will be par plus the final coupon unless any fund finishes below its downside threshold level, 65% of its initial level, in which case investors will lose 1% for every 1% that the least-performing fund declines from its initial level.
Citigroup Global Markets Inc. is the underwriter with Morgan Stanley Wealth Management as the selected dealer.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Contingent income autocallable securities
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| Underlying fundes: | Financial Select Sector SPDR fund, Materials Select Sector SPDR fund, Utilities Select Sector SPDR fund
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| Amount: | $2,095,000
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| Maturity: | June 27, 2025
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| Coupon: | 10% per year, payable quarterly if each fund closes at or above coupon barrier level on the corresponding determination date
|
| Price: | Par
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| Payout at maturity: | Par plus final coupon unless any fund finishes below downside threshold level, in which case 1% loss for every 1% that least-performing fund declines from initial level
|
| Call: | Automatically at par plus coupon if each fund closes at or above initial level on any quarterly determination date
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| Initial levels: | $69.01 for Utilities, $32.34 for Financial, $32.34 for Materials
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| Coupon barriers: | $44.857 for Utilities, $21.021 for Financial, $49.699 for Materials; 65% of initial levels
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| Downside thresholds: | $44.857 for Utilities, $21.021 for Financial, $49.699 for Materials; 65% of initial levels
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| Pricing date: | June 24
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| Settlement date: | June 29
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| Underwriter: | Citigroup Global Markets Inc.
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 2.5%
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| Cusip: | 17330N161
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